Iran needs 400 new aircraft
04/05/2014 9:34 am EDT

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Ali Reza Jahangirian, head of Iran’s Civil Aviation Organisation has said the country has pent-up demand for 400 new planes, offering potential billions to manufacturers such as Airbus and Boeing, Reuters has reported. “Iranian airlines will be ready to buy 40 passenger planes every year for 10 years if sanctions are lifted,” said Jahangirian. Of Iran’s 250 commercial planes, about 150 are flying, while the rest are “not functional” due to a lack of spare parts, he said. The Islamic Republic won limited relief from Western sanctions after agreeing to curtail its nuclear activities for six months under an interim accord with world powers which took effect in January.

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